Gold Prices in Vietnam

Saigon Jewelry Company gold bar price hovered at VND121.4 million (US$4,631.47) per tael, while the gold ring price stood at VND117.1 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Global Gold Market Trends

Globally, gold prices held steady on Friday but are on track for a third consecutive weekly loss. This trend is pressured by a stronger dollar and diminished expectations for U.S. rate cuts. However, uncertainty from U.S. tariffs on trading partners has offered some support.

Spot gold was steady at $3,288.89 per ounce, with bullion down 1.4% so far this week. U.S. gold futures edged down 0.3% to $3,339.90.

Expert Insights

"Gold remains weighed by reduced bets for Fed rate cuts for the rest of 2025. This week's U.S. GDP, weekly jobless claims, and PCE figures also shored up the Fed's reluctance to commit to a rate cut," said Han Tan, chief market analyst at Nemo.Money.

The Fed held rates steady in the 4.25%-4.50% range on Wednesday, dampening expectations for a September rate cut.

Gold, often considered a safe-haven asset during economic uncertainties, tends to perform well in a low-interest-rate environment.

"The precious metal should, however, remain supported amid the still-uncertain impact from U.S. tariffs on global economic growth," Tan added.